Development of Model and Intelligent Tutoring System for Integrated Construction and Real Estate Crisis Management in the Transition Economy Countries
||Siniak, Nikolai; Valetka, Uladzimir; Rusiyanov, Leonid
||Development of Model and Intelligent Tutoring System for Integrated Construction and Real Estate Crisis Management in the Transition Economy Countries
||16th Annual European Real Estate Society Conference in Stockholm, Sweden
||In any region, including the Lithuania and Belarus, sustainable development demands creation of a single international strategy for use of innovative assets; the strategy should include management of construction and real estate. Attractiveness and competitiveness of the counties depends on the development of the construction and real estate sectors significantly; thus search for solutions in the face of crisis in these sectors is very important. The paper is devoted to analysis of the experience of developed foreign countries in overcoming of the construction and real estate crisis and will determine the main criteria defining the development trends in the construction and real estate sectors. Expert methods and systems of criteria were used to compare the actions (attempts to overcome the crisis) of governments and business entities of developed countries with actions of the transition countries. This paper attempts to identify some attempts to overcome crises in both countries: the Action Plan to Overcome the Construction and Real Estate Crisis, the Intelligent Teaching System. The latter is very important in face that research and development expenditure in the European construction sector does not reflect its economic importance. Investment in R&D is limited to 0.3 per cent of the sector’s turnover which is quite low in comparison, for example, to Japan (2–3 per cent). This might account for the relatively low productivity gains in this sector in the future. As a part of the Intelligent Teaching System we need to establish a journal where papers analysing economic issues in construction, real estate and housing will be submitted. Published building and construction journals are in fact engineering-oriented. In developing Action Plan we submit the most important (in its native country’s opinion) factors influencing the crisis and will suggest the ways to mitigate or liquidate the consequences. In order to make a model for integrated construction and real estate crisis management, the most efficient alternatives facilitating improvement of competitiveness of construction and real estate sectors in Lithuania and Belarus was selected. The analysis included methods of multi-criteria analysis and expert methods. The important result includes creation and implementation of decision support systems which will help to mitigate the effect of the crisis on the real estate sector. It will be possible to use the model for integrated construction and real estate crisis management developed in modelling of construction and real estate crisis management for EU countries where the construction industry is a major constituent of economies. The gross output of the sector in the European Union represented more than 10 per cent of GDP. The sector also accounts for one half of gross capital formation."
||Construction, real estate, integrated crisis management, analysis, forecast, macroeconomic factors, prices
||file.pptx (204,037 bytes)
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||Cycles and Crises
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